Sat,25Mar2017

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South Korea officially known as Republic of Korea has Asia’s fourth largest economy and ranks 12th among Purchasing Power Parity. It is an autonomous state in the southern part of Korean peninsula and is a presidential republic consisting of seventeen administrative divisions. South Korea is a developed country with a very high standard of living which attributes to the increase in life expectancy. South Korea’s health insurance system is mainly via the National Health Insurance scheme which covers 96.3% of the population. This is financed by the employer-employee contribution as well as government subsidies. There are both public and private sector healthcare institutions wherein the expenditure is divided almost equally and this is given by Organization for Economic Co-operation and Development (OECD) and the patients are free to choose their healthcare providers. South Korea has also shown a tremendous growth in clinical trials and between the years 2006-2009 there has been a 150% increase in trials being conducted in South Korea (i.e. 206 to 513) making it rank between 13 and 15 in the world in terms of number of clinical trials conducted.

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